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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: Haim R. Branisteanu who wrote (75146)6/12/2011 9:08:10 PM
From: Hawkmoon  Read Replies (1) of 218636
 
I'm not sure that US banks weren't "motivated" by the Fed/Treasury to write those CDS for Euro debt.

It doesn't make a lot of sense that they were accept such exposure unless the premiums they received were extremely high, or they had the implicit understanding that the Fed would back them.

I'm still under the opinion that part of the reason the USD was trashed is because we didn't want the Euro to break the 1.19 level. Such an event would guarantee a breakup of of the EU and we don't want that.

Hawk
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